Every Tuesday, we’ll report exactly how much our families have in their checking accounts -- and what they’re planning to do with it.
Wow! That feels like a lot of money. My financial aide money arrived Saturday ($3300), and my paycheck was deposited ($473). The paycheck was LOT smaller than I’d hoped, but I also suspected the first one would be. I’m only getting paid for half of January, but they have to take out a full month’s worth of deductions to cover February’s benefits. It’s income though, and it feels good! Now, I need to find some time to make it over to the bank to set up a savings account to put the financial aide money into so that I can set it aside and save it for the two final terms that I’ll have to pay out of pocket. And, I need to pay the bills I set aside the past couple of weeks. Plus, my mom is starting to push for rent money. I can’t say I blame her at all, but the timing adds one more piece of pressure. My biggest fear right now though is me. I’ve lived in scarcity for so long, there’s a part of me that wants to go out and get all the things I’ve been holding off on for years. If I do that though, I’ll undermine everything I’ve been working so hard to create. This is my shot at a whole new life. And I want that a lot more than I want all those things. Nope, I need to get to the bank and set up a savings account so that I can’t see that money in my check register anymore!
It has been an extremely challenging month financially and emotionally. I set up a second checking account, as my advisor suggested. This meant that I had to transfer over all of the monthly direct withdrawals from my account to a second one. I had to make a lot of phone calls and fill out a lot of official documents. This was not a smooth process. Some of the paperwork was lost in the shuffle (then found again); some of the account numbers were input incorrectly leading to late fees and bills not getting paid. Luckily, I had been watching closely for fear of this and I was able to get fees reversed, etc. I had forgotten about one automatic bill withdrawal and had failed to write down a gas purchase in my ledger, which means that, with 3 more automatic withdrawals coming, I’ll be overdrawn by $177.87. I have the funds in my other account, but need to figure out how to move them. We are overdue on our cell phone bill because I knew I wouldn't have money available until today. I have vowed to not use my credit card and I have followed through with that vow. I feel that this is part of the reason that I am so messed up this month. I usually rely on the card for necessities and pay all my bills with the checking accounts, then when the credit card bill arrives I pay that off. Sounds like a crazy cycle, but it worked for me. In retrospect, it has allowed me to not worry about a budget. Getting used to living on a budget is challenging, but I know it will be totally worth it in the end.
The new fridge is being delivered tomorrow! Next task is filling it up.